Caledonia in record annual gold production at Blanket mine

Caledonia Mining produced 67,476 ounces of gold in 2021 at its Blanket mine in Zimbabwe compared to 57,899 ounces in 2020.
Company chief executive Steve Curtis said production in the year was above the top end of the guidance range and was a new record for annual production. 
"Now that the Central Shaft is commissioned, we expect further increases in production: guidance for 2022 is a range of 73,000 to 80,000 ounces while from 2023 onwards it is 80,000 ounces – 38% higher than in 2020,” he said.
Curtis also said the robust operating performance was supported by good cost control and gross profit for the year of $54.1 million, which was 16% higher than 2020.
"We continued to increase the dividend in 2021. The total dividends paid in 2021 were 50 cents per share - almost 50 per cent higher than in 2020,” he said. 
Caledonia acquired mining claims at Maligreen in the Zimbabwe midlands last year, which is estimated to host a NI 43-101 compliant inferred mineral resource of about 940,000 ounces of gold in 15.6 million tonnes at a grade of 1.88g/t.  
“Our immediate focus on this asset is to improve the confidence level of the existing resource base and we are currently re-assaying historic drill cores,” said Curtis.
“Thereafter we expect to prepare a feasibility study to commercialise the existing resource before we engage in further exploration on the claims area along strike, at depth and at a previously unexplored zone in the claims area.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished